Small-business owners in B.C. are among the most optimistic in the country, but they may not be ready for the challenges that come with success.
According to the latest Canadian Federation of Independent Business Business Barometer index, B.C. entrepreneurs ranked second after Newfoundland and Labrador in terms of their positive business outlook. CFIB is Canada's largest association of small and medium-sized businesses with 109,000 members.
The Barometer listed Newfoundland and Labrador (69.1) as the most optimistic in the country, although confidence is rising in B.C. (67.6), which overtook Saskatchewan (67.2) and Alberta (65.3). Quebec (64.1) and Ontario (63.2) are just above the national average, while Manitoba (61.7) and New Brunswick (58.1) are below. Prince Edward Island (55.1) came in slightly ahead of Nova Scotia (53.8).
With small-business confidence high in B.C., one local business owner advises others in his sector to be mindful of the "growth trap." The business term refers to when a small company is too good at what they do. Before the company knows it, customers are lining up outside the door and demand has outstripped the capacity to deliver.